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45-29-90
Section 45-29-90 Definitions. The following words and phrases used in this article shall have
the following respective meanings unless the context clearly indicates otherwise: (1) AUTHORITY.
The public corporation organized pursuant to this article. (2) BOARD. The board of directors
of the authority which shall be the governing body of the authority. (3) BONDS. Includes bonds
and notes. (4) COUNTY. Fayette County. (5) DIRECTOR. A member of the board of directors of
the authority. (6) GOVERNING BODY. The county commission or other like governing body of Fayette
County. (7) LAND USE CERTIFICATE. A written document certifying that a regulated project or
activity is in compliance with applicable ordinances. It shall be obtained from the planning
commission in accordance with adopted administrative procedures for obtaining such certificate.
(8) MANAGEMENT AREA. The Tom Bevill Reservoir Management Area. (9) MUNICIPALITY. An incorporated
city or town of the state. (10) PERSON. Unless limited...
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11-50A-9
Section 11-50A-9 Issuance of bonds; prerequisites; procedure; provisions; execution; bond resolution
covenants. (a) The authority shall, prior to the adoption by the board of a resolution authorizing
the issuance of any bonds, enter into one or more contracts with two or more municipalities
which are authorized to contract with the authority pursuant to Section 11-50A-17. Any resolution
of the board authorizing the issuance of bonds may authorize those bonds to be issued in more
than one series, and the issuance of each series of bonds so authorized by that resolution
need not be preceded by the entering into by the authority of additional contracts pursuant
to Section 11-50A-17. (b) The board may by resolution or resolutions authorize the issuance
of bonds. Unless otherwise provided therein, the resolution or resolutions shall take effect
immediately and need not be published or posted. The board may authorize such types of bonds
as it may determine, subject only to any agreement with...
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16-16-14
Section 16-16-14 Use of bond proceeds for loans to local boards of education. The proceeds
derived from the sale of any bonds issued pursuant to subsection (b) of Section 3 of Act 98-373
shall be deposited in the State Treasury and shall be carried in a separate fund therein for
the account of the authority, which shall pay therefrom the expenses of issuance thereof.
The proceeds from the sale of the bonds remaining after payment of the expenses of issuance
thereof shall be retained in such fund and, until they are paid out, shall be invested by
the State Treasurer at the direction of the authority in permitted investments which mature
at such time or times as the authority shall direct. Monies in the fund (whether original
proceeds from the sale of the bonds or principal proceeds of matured permitted investments)
shall be available for loan by the authority. The authority is hereby authorized to loan,
and each local board of education is hereby authorized to borrow, such monies under...
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45-39-92.53
Section 45-39-92.53 Abolition of corporation upon payment in full of securities; disposition
of proceeds. (a) When the original securities secured by a pledge of the taxes authorized
in this subpart, including refunding securities hereafter issued to refund the original securities,
for the Shoals Economic Development Project have been paid in full, the local public corporation
is abolished. Securities for which an irrevocable trust fund consisting of cash or direct
general obligations of the United States of America, or both, is established for retirement
of all of the principal of or interest on any outstanding security, shall be deemed paid in
full for the purposes of this subpart. (b) Notwithstanding any other provision of this subpart,
the local public corporation may not increase any outstanding debt or debt obligations or
create additional debts relating to the original bond balance owed as of May 12, 2005. (c)
(1) Upon abolishment of the local public corporation, the proceeds of...
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11-92A-18
Section 11-92A-18 Exemptions from taxation. All properties of an authority, whether real, personal,
or mixed, and the income therefrom, all bonds and other securities issued by an authority
and the coupons applicable thereto and the income therefrom, and all indentures and other
instruments executed as security therefor, all leases and loan agreements made pursuant to
the provisions of this chapter and all revenues derived from any such leases or loan agreements,
and all deeds and other documents executed by or delivered to an authority shall be exempt
from any and all taxation by any public person, including without limitation license and excise
taxes imposed in respect of the privilege of engaging in any of the activities in which an
authority may engage. An authority shall not be obligated to pay or allow any fees, taxes,
or costs to the probate judge in connection with the amendment of its articles or the recording
of any document. Further, the gross proceeds of the sale of any...
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22-34-6
Section 22-34-6 General powers. (a) The authority shall have the following powers, among others
specified by this chapter: (1) To have succession in its corporate name until the principal
of an interest on all bonds issued by it shall have been fully paid; (2) To sue and be sued
and to prosecute and defend, at law and in equity, in any court having jurisdiction of the
subject matter and of the parties thereto; (3) To have and to use a corporate seal and to
alter such seal at pleasure; (4) To establish a fiscal year; (5) To acquire in any manner
and to hold title to or leasehold interests in real and personal property and to sell, convey
or lease the same for purpose of carrying out its functions and duties hereunder; (6) To construct
and operate or lease to or from any public body and project; (7) To execute agreements effectively
obligating the authority to agree to pay and to pay such portion of the estimated reasonable
cost of the project of each public body as may be required to...
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23-1-274
Section 23-1-274 Erection or maintenance of signs - Controls; criteria. The director shall
effectively control, or cause to be controlled, the erection and maintenance of outdoor advertising
signs, displays, and devices in all business areas that are erected subsequent to February
10, 1971. Whenever a bona fide state, county, or local zoning authority has made a determination
of customary use as to size, lighting, and spacing, such determination may be accepted in
lieu of controls by agreement in the zoned commercial and industrial area within the geographical
jurisdiction of such authority. In all other controlled commercial and industrial areas, the
criteria set forth below shall apply: (1) SIZE OF SIGNS. a. For sign structures erected after
July 15, 1995, the maximum area for any one sign shall be 672 square feet with a maximum height
of 14 feet and a maximum length of 48 feet, inclusive of any border and trim on the sign face,
but excluding any embellishment on and cut-out...
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23-2-153
Section 23-2-153 Exemptions from levy, charge, assessment, collection, etc., of certain taxes;
certificate of exemption. (a) The exercise of the powers granted by this article shall be
in all respects for the benefit of the people of the state, for the increase of their commerce
and prosperity, and for the improvement of their health and living conditions. Since the ownership,
operation, and maintenance of toll road, bridge, or tunnel projects by the authority will
constitute the performance of essential functions, the authority, department, and any concessionaire,
or any contractor, subcontractor, or agent thereof, shall not be required to pay the taxes
or assessments as specifically authorized in this section upon any toll road, bridge, or tunnel
project or any property acquired or used by the authority, department, or any concessionaire
under this article. (b) An income, excise, or license tax or assessment may not be levied
upon or collected in the state with respect to any...
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41-10-37
Section 41-10-37 Allocation procedure. Allocations of the state ceiling shall be granted by
the authority in response to applications filed with the authority by any issuer in the following
manner: (1) Each application shall be made by an instrument in writing signed by an officer
or agent of the issuer and shall contain (i) the names and addresses of the issuer, the proposed
lessee, purchaser or user of the project to be financed (if applicable), and bond counsel,
(ii) the maximum principal amount of affected bonds proposed to be issued, (iii) a brief description
of the project to be financed, and (iv) a brief description of the affected bonds proposed
to be issued, identifying such bonds as "Exempt Facility Bonds," "Qualified
Mortgage Bonds", "Qualified Small Issue Bonds" (and if "Qualified Small
Issue Bonds," further indicating whether the project to be financed constitutes a "Manufacturing
Facility"), "Qualified Student Loan Bonds," or "Qualified Redevelopment
Bonds." In addition,...
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41-10-552
Section 41-10-552 Publication of notice; time limitation on actions contesting proceedings,
validity of obligations, etc. Upon the adoption by the directors of any resolution providing
for the issuance of authority obligations, the authority may, in its discretion, cause to
be published once a week for two consecutive weeks, in newspapers published or having a general
circulation in the Cities of Birmingham, Montgomery, Huntsville, and Mobile, a notice in substantially
the following form (the blanks being properly filled in) at the end of which shall be printed
the name and title of either the president or the secretary of the authority: "Alabama
Incentives Financing Authority, a public corporation under the laws of the State of Alabama,
on the ___ day of _____, authorized the issuance of $ ______ principal amount of bonds (a
guaranty agreement securing $ _____ principal amount of bonds of ___) for purposes authorized
in Title 41, Chapter 10, Article 16, Division 1 of the Code...
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